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African Barrick Gold Weakens on Debut

By

Margot Patrick

Updated March 19, 2010 1:37 p.m. ET

LONDON—African Barrick Gold PLC, a spinoff of Canadian miner Barrick Gold Corp., said it will raise £581 million ($885.4 million), marking the biggest initial public offering in London in nearly two years.

The 101 million shares offered were priced at 575 pence, toward the bottom of the proposed price range, and then fell fractionally to 574.50 pence on their debut.